India will pay for Iranian oil using rupee from November
Sources have said that India will be settling all their payment for Iranian oil. This is because US sanctions will make it difficult to settle trades through European banks. US President, Donald Trump withdrew from a 2015 nuclear accord with Iran in May. He ordered the renewal of US sanctions. Some sanctions already have taken effect since August 6th. The sanctions that affect the oil and banking sectors will take effect on for November the 4th. India does not want to default on making payments. That is why they are…
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